World’s largest ports register volume growth in Q1 2017

In the first quarter of 2017 all top 5 container ports reported an increase in their volumes, which speaks of positive trends returning in the global trade. March has been marked as an especially successful month, with some ports posting a double-digit growth. This is confirmed by the Chinese foreign trade figures of the month: exports +16.4%, imports +20.3% to March 2016, according to China’s General Administration of Customs.

The world’s busiest container port – Shanghai – posted a total throughput of 9.39 mln TEU in the first quarter of 2017, up 9.9% compared to 8.35 mln TEU registered in the same period of 2016. According to Shanghai International Port Group Co. (SIPG), the port handled 3.43 mln TEU in March (+14.3% y-o-y) and 2.65 mln TEU in February 2017.

Singapore, the second-largest container port, announced the Q1 2017 volume of 7.61 mln TEU, marking a growth of just 3% compared to 7.39 mln TEU of the same period last year. However, March was also a booming period for the port, when it achieved a 6.7% increase y-o-y, to 2.69 mln TEU, according to the figures provided by the Maritime and Port Authority of Singapore (MPA). In February 2017, the port handled 2.3 mln TEU.

Chinese Ningbo-Zhoushan, which since 2015 has been the world’s fourth busiest container port, in the first quarter of 2017 outperformed its rival – Shenzhen. According to Ningbo Zhoushan Port Group, the port recorded the throughput of 6.2 mln TEU, up 9.1% compared to the same period of 2016. In March, Ningbo-Zhoushan handled 2.12 mln TEU (+13.2% y-o-y).

The world’s box port #5 – Hong Kong – achieved in Q1 2017 the highest growth of all top 5 ports – 12.6% to the same period last year, by handling 4.87 mln TEU. The throughput of the biggest terminal – Kwai Tsing – was 3.86 mln TEU, up 12.5%. The port’s March volume was 1.77 mln TEU (+17.1% y-o-y).